Mexico’s Central Bank Cuts Rates for First Time in 5 Years as Economy Sputters

Mexico’s Central Bank Cuts Rates for First Time in 5 Years as Economy Sputters – Reuters

Mexico’s central bank cut its key lending rate for the first time since June 2014, citing slowing inflation and increasing slack in the economy, and fueling expectations that further monetary policy easing could be on the way.

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Global Stocks Routed, Oil Sinks as Bond Markets Flash Recession Warning

Global Stocks Routed, Oil Sinks as Bond Markets Flash Recession Warning – Reuters

Global stocks crumbled and oil prices extended a punishing sell-off on Thursday as an inverted US bond yield curve intensified fears about a world recession.

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Hong Kong Airport Reopens After Overnight Clashes, Mass Protests

Hong Kong Airport Reopens After Overnight Clashes, Mass Protests –Reuters

Hong Kong’s airport resumed operations on Wednesday, rescheduling hundreds of flights that had been disrupted over the past two days as protesters clashed with riot police in a deepening crisis in the Chinese-controlled city.

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China’s Former Central Bankers Warn of Lasting Currency War with US

China’s Former Central Bankers Warn of Lasting Currency War with US – Straits Times

Former China central bankers have warned of currency-war risks with the US after an abrupt escalation of trade tensions between the world’s two biggest economies this week.

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US Holds Off on Huawei Licenses as China Halts Crop-Buying

US Holds Off on Huawei Licenses as China Halts Crop-Buying – Bloomberg

The White House is holding off on a decision about licenses for US companies to restart business with Huawei Technologies Co. after Beijing said it was halting purchases of US farming goods, according to people familiar with the matter.

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In Allowing Yuan to Devalue, China Policy Makers Concede Economy Needs a Boost

In Allowing Yuan to Devalue, China Policy Makers Concede Economy Needs a Boost – Wall Street Journal

China’s abrupt devaluation of the yuan this week is an acknowledgment from Beijing that its domestic economy needs help, a vulnerability that Chinese policy makers have played down during the escalating trade conflict with the US.

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Trump Accuses China of ‘Currency Manipulation’

Trump Accuses China of ‘Currency Manipulation’ – CNBC

President Donald Trump accused China of manipulating its currency as the trade war between the world’s largest economies keeps escalating.

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USD/CNH Above 7 as China Bites Back in Trade War

USD/CNH Above 7 as China Bites Back in Trade War – Profit & Loss

The FX market was surprised today when the Peoples Bank of China set the onshore USD/CNY rate much higher than anticipated at 6.9225, leading to the offshore USD/CNH currency pair extending gains through 7.00 – a level previously defended by the Chinese authorities concerned about capital outflows and one at which the pair has never traded above.

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